mcx tips nivaca

Gold:-

MCX Goldpetal August contract trades lower

At 16:09 hrs MCX GOLDPETAL July contract was trading at Rs 2733 down Rs 3, or 0.11 percent. The GOLDPETAL rate touched an intraday high of Rs 2745 and an intraday low of Rs 2730. So far 12324 contracts have been traded. GOLDPETAL prices have moved up Rs 17, or 0.63 percent in the July series so far.

MCX GOLDPETAL August contract was trading at Rs 2747 down Rs 4, or 0.15 percent. The GOLDPETAL rate touched an intraday high of Rs 2755 and an intraday low of Rs 2742. So far 7224 contracts have been traded. GOLDPETAL prices have moved up Rs 40, or 1.48 percent in the August series so far.

MCX GOLDPETAL September contract was trading at Rs 2755 down Rs 2, or 0.07 percent. The GOLDPETAL rate touched an intraday high of Rs 2762 and an intraday low of Rs 2750. So far 567 contracts have been traded. GOLDPETAL prices have moved up Rs 178, or 6.91 percent in the September series so far.

Silver:-

Silver prices on MCX declined. At 14:59 hrs MCX SilverSeptember contract was trading at Rs 41885 down Rs 349, or 0.83 percent.

                    

                                                    

The Silver rate touched an intraday high of Rs 42222 and an intraday low of Rs 41865. So far 8419 contracts have been traded. Silver prices have moved down Rs 15434, or 26.93 percent in the September series so far.

Crude oil:-

Crude oil futures extended the rally rising to 16 month high above USD 108 a barrel in the Asia electronic session today buoyed by strong data from US and the fall in inventories. Light, sweet crude for August delivery are trading up 10 cents at USD  108.12 per barrel on the New York Mercantile Exchange. Yesterday, it settled USD 1.56, or 1.5 percent, higher at USD 108.04 a barrel. That's its highest finish . The clearest sign of the development has been a steep drop in U.S. oil inventories, down 27 million barrels in the last three weeks, after setting records earlier this year.

Analysts said the contract took cues from economic headlines pointing to stronger growth in the U.S., the world's largest oil consumer. The market was also lifted by a rising U.S. stock market, seen as a barometer of broader economic health.

The Labor Department said initial claims for unemployment benefits in the U.S. fell by 24,000 to a seasonally adjusted 334,000 . Economists had expected 340,000 new jobless claims. Separately, the Philadelphia Fed’s manufacturing survey in July surged to 19.8 from 12.5, marking the highest level .

Natural gas:-

The natural gas pricing reforms initiated by the government will help bring to production at least 12 Trillion cubic feet or nearly four KG-D6-sized gas fields, Bank of America Merrill Lynch said in a report.

The government on June 27 approved pricing of domestic gas at an average cost of imported LNG into India and global gas hub prices from April 1, 2014 which would double the rate of USD 4.2 per million British thermal unit.

                                                     

Nickel :-

Nickel prices have been continuously taking support around Rs 790 mark and couldn’t close below 800 since last 12-14 weeks on MCX. Prices bounced back last week to 843 and made a highest weekly close after 6 weeks. MACD which has given a positive crossover and difference in histogram also turned positive indicating that the prices are more likely to move further up. We believe nickel prices are more likely to trigger upside to Rs 930-960 levels in the coming weeks.

Outlook: We expect the Nickel prices to test Rs 930-960 levels in the short run, Buy Nickel on dips Aug Contract between Rs 840-850 stoploss below Rs 800 on daily closing basis for the target of Rs 930-960.

Zinc:-

Hind Zinc Q1 net up 5% on good show from lead & zinc biz

Hindustan Zinc  has reported a 5 percent year-on-year rise in June quarter profit to Rs 1660 crore on improved margins in its copper, lead and silver business. The Vedanta-group company’s sales also rose 8 percent YoY to Rs 2939 crore on higher volumes and weaker rupee, partly offsetting lower metal prices.

Its income from 'zinc, lead and silver division grew 9 percent to Rs.2,874 crore. However, wind energy segment witnessed 8 percent decline to RS 65 crore.

EBITDA (earnings before interest, tax, depreciation and amortisation) grew 6 percent to Rs 1506 crore.

The firm said itachieved integrated refined zinc production of 173,000 MT, up around ten percent YoY on higher smelter utilisation rate, while integrated refined saleable silver production was up  nine percent to 77 MT on higher contribution from Sindesar Khurd and Zawar mines.However,integrated refined lead production during the quarter was flat at 29 MT.

The company said it has cash and cash equivalents of Rs.22,365 crore, of which Rs.14,743 crore is invested in debt mutual funds, Rs.2,217 crore in bonds, and Rs.5,398 crore in fixed deposits with banks

Agnivesh Agarwal, chairman Hindustan Zinc said that the firm is committed to consistently delivering superior performance in future too. 

Shares of the company declined over two percent to Rs 104.20 post earnings announcement.

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